AMI welcomes Treasury buy-to-let announcement

Aspects of the buy-to-let market will be the subject of new Financial Services Authority (FSA) regulation - a move the Association of Mortgage Intermediaries (AMI) has welcomed.

The focus of the new red tape will be on individuals - as opposed to limited companies - who carry out buy-to-let transactions, such as private landlords.

Director of the AMI Robert Sinclair said: "Broadly, this appears to be codification of existing industry best practice and should not introduce significant additional costs."

The Treasury announced the new power the FSA will hold earlier this week, but the wider Mortgage Market Review could have more of an impact on the buy-to-let sector - an area that the Council of Mortgage Lenders recently said had shown signs of improvement.

Mr Sinclair said that any further mortgage market reforms should be implemented efficiently and in a timeframe that allows the industry to adapt accordingly.